It is a peculiar hubris of California's legislators that they often presume to extend the application of the state's laws beyond its legal borders. Corporations Code Section 2115, for example, presumes to apply multiple...more
On Wednesday, June 26, 2019, the California Senate Banking Committee will take up AB 642, which would add certain lead generation activities to the definition of “broker” under the California Financing Law (Cal. Fin. Code §...more
The California Financing Law (fka Finance Lenders Law) prohibits anyone from engaging in the business of a finance lender without obtaining a license from the California Commissioner of Business Oversight (unless exempt). ...more
California's default lender licensing law is the California Financing Law, a law which had until recently been known as the California Finance Lenders Law. The CFL generally prohibits anyone from engaging in the business of...more
The California Department of Business Oversight administers and enforces the California Financing Law (fka Finance Lenders Law). Visitors to the DBO's website will find a basic description of the CFL, including the following...more
In a change that escaped my notice, the legislature has seen fit to rename the venerable California Finance Lenders Law as the California Financing Law. This legislation, Stats. 2017, ch. 475 (AB 1284 (Dababneh)), was...more
Is your California securities broker-dealer a licensed personal property broker? Does it need to have such a license to make loans to its customers? Anyone reading California Corporations Code Section 25217(c) would...more
The California Finance Lenders Law imposes a licensing requirement on persons engaged in the business of a finance lender. Cal. Fin. Code § 22100(a). Chapter 2 of the CFLL imposes a host of requirements on “consumer loans”...more